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Trump Backs Warsh for Fed Chair, Slams Powell's Record

2/11/2026

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Summary

Story summary

U.S. President Donald Trump expressed strong support for Kevin Warsh as Federal Reserve chair.
He claimed he could drive U.S. economic growth to 15%.
In a Fox Business interview, the president admitted his 2017 nomination of Jerome Powell was a mistake.
Warsh's confirmation may face delays as Sen. Tillis opposes nominations until a Powell DOJ investigation is resolved.
Trump labeled Powell's handling of Fed renovations as incompetent and corrupt.

History

Historical Context

The Federal Reserve Reform Act of 1977 established the dual mandate of promoting maximum employment and price stability, responding to the economic challenges of the 1970s, including stagflation with inflation rates exceeding 13%. This act enhanced Congressional oversight of the Fed, reflecting ongoing tensions between U.S. presidents and the central bank regarding monetary policy direction and independence.

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Story summary

U.S. President Donald Trump expressed strong support for Kevin Warsh as Federal Reserve chair.
He claimed he could drive U.S. economic growth to 15%.
In a Fox Business interview, the president admitted his 2017 nomination of Jerome Powell was a mistake.
Warsh's confirmation may face delays as Sen. Tillis opposes nominations until a Powell DOJ investigation is resolved.
Trump labeled Powell's handling of Fed renovations as incompetent and corrupt.

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